5,428 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,428 shares of the financial services provider's stock, valued at approximately $381,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Spinnaker Trust raised its stake in shares of Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after acquiring an additional 130 shares during the last quarter. MONECO Advisors LLC grew its stake in shares of Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after purchasing an additional 134 shares during the last quarter. Crown Wealth Group LLC increased its holdings in Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 140 shares during the period. Jacobsen Capital Management raised its position in Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock worth $381,000 after purchasing an additional 148 shares during the last quarter. Finally, New Republic Capital LLC lifted its holdings in Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after buying an additional 149 shares during the period. 75.90% of the stock is owned by institutional investors.

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Analyst Ratings Changes

WFC has been the subject of several recent research reports. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $74.97.

Wells Fargo & Company Stock Up 1.6 %

WFC stock traded up $1.16 during mid-day trading on Monday, reaching $71.85. 14,851,165 shares of the company traded hands, compared to its average volume of 17,131,320. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm's 50 day moving average price is $75.84 and its 200 day moving average price is $70.14. The stock has a market cap of $234.59 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.